Singapore Firm, Vietsovpetro Ink US$42.4M Gas Compressor Module Deal

Global Process Systems of Singapore clinched a deal worth US$42.4 million with the Vietnam-Russia Oil and Gas Joint Venture (Vietsovpetro) in the southern city of Vung Tau on June 29 to provide natural gas compressor modules for a gas collection project at Rong-Doi Moi oil field.

 

The field is located on Block 09.3, which is about 135 kilometers off the southern coast of Ba Ria-Vung Tau province, Vietnam’s oil hub.

 

Under the contract, the Singaporean firm will provide the equipment to Vietsovpetro within 15 months.

 

The gas collection project is of great importance to Vietsovpetro as it will help collect associated natural gas, ending offshore gas firing and protecting the environment.

 

In early May, the Bank for Investment and Development of Vietnam (BIDV) signed an agreement to finance US$76.82 million for oil production at Nam Rong-Doi Moi oil field this year.

 

Vietsovpetro has to date pumped 180 million tons of crude oil and brought ashore 20 billion cubic meters of natural gas. (The People)